New administrative board in company "Energija Novi Sad" - tender for new gas-steam block to be announced in autumn

- The first Assembly of stockholders of Company for combined production of steam power and heating energy "Energija Novi Sad" (ENS) has been held in Novi Sad - people from "Electric Power Company of Serbia" (EPS) announced.

The joint venture of EPS and Novi Sad for construction of new gas plant-heating plant "Energija Novi Sad" was founded on July 6 in Novi Sad.

The joint venture officially started its operations with the constitution of the Assembly of stockholders, after the Government gave consent for founding of ENS on July 23rd.

ENS was founded with the aim of construction of the new gas-steam block of high energy efficiency (TE-TO) in association with the strategic partner. This new block should enable cheaper production of electric and heating energy.

Modern unit, which would use natural gas as fuel, should cost about 200m EUR, and it is expected that it will be connected to the network in 2012.

International tender for selection of strategic partner will be announced by ENS this autumn.

The Administrative Board was appointed at the first constitutive Assembly of stockholders of ENS. The representatives of EPS that became the members of the Board are Zoran Manasijević, the assistant to the Director General of EPS, and Slobodanka Krčevinac, the Executive Director of EPS.

The representatives of Novi Sad in the Administrative Board of ENS are Vitomir Vučković, the assistant to the Mayor, and Živko Makarić, a member of the City Council who is in charge of finance.

The Administrative Board will have its first meeting in August.

Over the last few years, the unit has been mainly used during winter months for the needs of heating in Novi Sad and supply of power to Serbia.

Due to insufficient engagement and large expenses, the price of electricity significantly exceeds the price of 1 kWh from steam power plants powered by domestic lignite, which makes the work of TE-TO Novi Sad economically insustainable on long-term basis.